Kamala Harris, speaking at a fundraiser on Sunday, commented on her crypto policies for the first time.
The presidential candidate has pledged to be more friendly towards digital assets while protecting customers.
So far, crypto and non-crypto executives are flooding more and more toward Harris' camp.
Harris is leading Trump on PolyMarket and has raised more than twice Trump's amount in campaign funds.
US democratic candidate for the presidency, Kamala Harris has just made headlines once again, by addressing the crypto industry for the first time.
Harris, since her endorsement by current president, Joe Biden has evaded the issue of crypto for months now, plunging the entire industry into speculation throughout her campaign for the presidency.
However, on Sunday this week, at a Wall Street fundraiser in Manhattan, she outlined her vision for the sector amid commendations from crypto and non-crypto executives.
Harris has pledged to encourage investment in innovative tech like AI and digital assets (including crypto).
She also emphasized the importance of consumer protections, in a move that now puts her on par with Donald Trump, who has positioned himself as the pro-crypto candidate.
During her speech on 22 September, the presidential candidate emphasized the need for an "all hands on deck" approach to enhance the country's competitiveness.
"We will partner together to invest in America’s competitiveness, to invest in America’s future," she stated.
This indicated a willingness to support several sectors including that of crypto.
She assured listeners that her administration would create a "safe business environment with consistent and transparent rules of the road."
This administration will be aimed at encouraging innovation while protecting consumers and investors.
Per reports from Bloomberg, this marks a milestone for Harris, considering how it was her first public comment on crypto since becoming the frontrunner of the Democratic party.
The industry had been eagerly awaiting her stance, especially in light of current perceptions that the Democratic party is less friendly than the Republicans towards the sector.
Harris’ comments came perfectly timed, with less than two months to the election.
This comes just as her Republican opponent, Donald Trump has taken a more aggressive stance towards supporting crypto.
Trump's recent actions include promoting a new NFT sector, promising to dismantle the current SEC framework, and even fire the current chair, Gary Gensler.
All of these combined, were likely the factors that put pressure on Harris to articulate her position clearly.
Interestingly, her senior campaign adviser, Brian Nelson hinted only last month, that if Harris were to win the election, she would strongly support crypto policies.
Ever since, crypto executives like Circle CEO, Jeremy Allaire, and Ripple’s executive chair, Chris Larsen among others, have expressed positive sentiment towards Harris.
This also aligns with a recent post from Coinbase policy chief Faryar Shirzad, who remarked on the importance of recognizing digital asset innovation in a recent tweet.
“We should press for more," he said, "but her statement today means a lot and we should recognize that.”
So far, as the elections approach, crypto has become a major issue, with major U.S. crypto firms such as Coinbase, Ripple, and Gemini reportedly spending a staggering $120 million to influence the outcome.
While Harris has expressed support, her approach still remains more cautious than that of Trump.
She has stated intentions to protect consumers and promote innovation. However, industry insiders remain wary of her statements.
A good example is Jake Chervinsky the legal chief at Variant. Chervinsky in a recent tweet, pointed out that the phrase "protecting our consumers and investors" has several meanings.
Other speculators like Ash Digital have been more harsh with their criticism:
Not so fast
“You’re applauding Harris for being pro-crypto,” he said “Do you think a candidate with an army of celebs looking for a quick buck will foster crypto innovation?”
So far, both presidential candidates are currently in a tight race, as national polls show that she leads him by only 2.9 percentage points.
Moreover, as per the latest PolyMarket odds, Harris currently leads Trump 52% to 47% with her strongest states being Wisconsin, Pennsylvania, Michigan and Nevada.
Harris beating Trump
In Michigan, the vice president has the largest advantage (66%), followed by Wisconsin (58%), and Pennsylvania and Nevada, where the margins are extremely narrow (52% and 51%, respectively.
The ongoing rivalry between Trump and Harris is not just limited to their stances on crypto.
Instead, it extends to other proposals including immigration, abortion rights, semiconductors and clean energy among other things.
The recent fundraiser hosted by Harris, which was attended by high-profile executives and celebrities, further increased her reach, with her campaign now raising a staggering $361 million in August—more than twice that of Trump’s $130 million.
So far, Harris’ recent comments on crypto show a major shift in the ongoing tug of war.
As the elections draw closer, the crypto industry continues to watch for how her policies evolve compared to Trump's.
Harris may now be playing a strategic game to position herself as more favorable than Trump, even in the crypto sector.
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